The latest UK house price index statistics produced by Communities and Local Government were released on Tuesday 12 October 2010.

The latest statistics release includes data based on mortgage completions during the month of August 2010.

The key points from the release are:

  • UK house prices were 8.3 per cent higher than in August 2009 and 0.7 per cent higher than in July 2010 (seasonally adjusted).
  • The mix-adjusted average house price in the UK stood at £213,116 in August (not seasonally adjusted).
  • UK house prices rose by 0.8 per cent in the quarter to August 2010 compared to an increase of 1.7 per cent in the May quarter (seasonally adjusted).
  • Average prices increased in England (9.3 per cent), Scotland (0.4 per cent) and Wales (9.0 per cent) but fell in Northern Ireland (-18.8 per cent).
  • Average prices paid by first time buyers increased by 8.2 per cent over the year to August whilst prices paid by former owner occupiers increased by 8.3 per cent.
  • Average prices paid for new properties were 8.6 per cent higher than a year ago and prices paid for pre-owned dwellings were 8.3 per cent higher.

Read the whole article here.
Article by the Communities and Local Government.
Data sourced from the CML/BankSearch Regulated Mortgage Survey.